How to Find Financial Aid in Canada to Fund your Studies Abroad
International students who wish to study outside their country must make provision for adequate funds and finance to fund their studies. While so many students have people and sponsors that provide funds for their studies some others find scholarships or other types of financial aid to support them in school. This article focuses on enlightening people on how to find financial aid in Canada to fund your studies abroad.
International students who apply to study in Canada count themselves lucky because of the benefits students enjoy in Canada. You can read up on the full benefits of studying in Canada. The Canadian government is dedicated to attracting international students to Canada and by that, boosts the nation’s economy. International students will find several financial aids in form of scholarships and student loans provided by the government, universities, and private organizations.
When choosing a school in Canada it is important to apply to schools that provide students with different financial support and aid. Universities in Canada have several financial aids and bursaries provided for international students most especially those publically funded by the Canadian government. These financial aids help to reduce tuition, accommodation, and other educational costs to study in Canada.
The downside to the financial aid provided is that they are mostly available to Canadian citizens or permanent residents and international students have just limited resources in finance available and you need to look in the right places to find these scholarships. Luckily you are in the right place.
What are the Right Places to Search for Financial Aid?
The first place to look for financial aid is in your home country. There are quite a number of places to search for financial aid in your home country like your university department or faculty, or your state education ministry. These places will likely have news updates on available financial aid programs for students to travel abroad.
You can also visit the Government of Canada International Scholarships http://www.scholarships-bourses.gc.ca/scholarships-bourses/index.aspx?lang=eng and the International Council for Canadian Studies websites http://www.iccs-ciec.ca/index_en.php where you can get a complete overview of the different financial aid available in Canada.
The other option is to enquire from the university in Canada you wish to study at to see if they have financial aid available for international students in the school.
Different Types of Financial Aids You May Get in Canada
Financial aids can come in as scholarships, bursaries, grants, stipends, fellowships, or loans. There is also an option for international students to work while they study which may also be regarded as financial aid.
Student loans come as Federal Loans and State Loans provided by the Federal and State governments respectively. Then there are the private loans provided which are provided by private organizations or firms. This type of financial aid requires students to repay the money collected as loans when they complete their studies. Each loan has different requirements, and repayment strategies, but are all available for international students and domestic students to access.
This type of financial aid does not have you repaying any money received. You receive monthly or year stipends as grants to help partially or fully fund your studies abroad. The Federal government in Canada provides most of the grants for international students who have accepted an offer for admission to study at a public university in Canada.
International Students who are studying in Canada have an option to work while they are still pushing their studies and degree. Not so many countries permit students to take up jobs for any reason, this is where Canada is different. The country does not boast of having many scholarships or providing more grants for students, but when it comes to providing different sources for students to create wealth for themselves and also gain experience while at it, they are regarded as one of the best.
Aid For Military Families
These are some of the financial aids provided for those who served in the military or who are spouses or children of military personnel.
Scholarships and Bursaries
This is financial funding provided by the government or private firms to international students. The funding comes as stipends which may occur monthly, as tuition waivers either partial or full tuition waivers, or as a non-repayable book or academic materials. Students usually receive this scholarship on the basis of academic excellence, Talent, Need-Base, or faculty-specific requirements.